Amazingly Convenient: Benefits of Bank Transfer

Amazingly Convenient: Benefits of Bank Transfer

Have you ever wondered what life was like about two decades back, when encashing a cheque required you to stand in long queues that refused to move, making you withstand heat and dust. You had to deal with constantly irritated employees and deeply rooted bureaucracy which involved getting a letter to the right person in charge. However, technology has ensured you do not need to go through the same hassles again to get a simple work done. Now there are safe, secure and efficient methods for a successful online bank transfer online.

A Step-by-Step Procedure Towards Successful Bank Transfer

All you need to do first is get the login ID as provided in the kit received after opening your account at the concerned bank. Create a strong password and then follow the below-mentioned steps:

1) Log in to your online bank account using the username and password you chose at the time of online registration.

2) Go the bank transfer section and add the beneficiary name

3) Once the beneficiary name is added, you need to wait for a 24-hour period to get that name and account number activated on your account.

4) Log in to your net banking again and select the beneficiary name.

5) Enter the amount you want to transfer. Once you’ve done that, you get an OTP on your mobile phone which you need to enter to authenticate the transaction.

Bank Transfer Through E-Commerce Apps

Before following the instructions, you must get your account linked with the app you are using. Ensure you are logged in to the app and then follow the step-by-step procedure as mentioned:

1) On the home screen, click the icon that says “Bank Transfer”

2) Choose the bank that is linked to your mobile number on that app

3) Click the account that appears on the next screen

4) Set up your secure MPIN for proper transaction authentication

Benefits of Online Transactions

Here are the a few benefits of online transactions

1) Convenient: As already mentioned, you can transfer money from one account to the other from your home. This makes it a very convenient option.

2) Simple: Since you are not at the mercy of bank employees to further your request, it is a very simple process that you can quickly learn once you have do online transactions a couple of times.

3) No extra cost: Choosing to transfer money to another account does not incur any charges to you. You can proceed with the request as many times as you want if the other person’s account is linked to yours.

4) Safe: Every time you log in to your online account, you are notified of the same through a text message on your registered mobile number and also when a bank transfer is complete. This way, you can constantly keep a track of all activities on your account.

5) Refunds and cashbacks: For any transaction you do online, there are multiple cashback options you can select and save money which is transferred to your account in a span of a day or two at maximum.

Categories: Technologies

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